DocuSign names former Google executive Allan Thygesen as new CEO

Google’s president of the Americas Allan Thygesen speaking to Rutberg’s Rajeev Chand at a Rutberg conference in Half Moon Bay, California.Ari Levy | CNBCDocuSign shares rose almost 5% in extended trading after the electronic signature software maker announced it has hired an Alphabet executive, Allan Thygesen, to be its next CEO. The announcement comes three month after DocuSign said its CEO for the past five years, Dan Springer, was stepping down.Like other cloud software companies, DocuSign enjoyed a wave of greater interest among investors during the Covid pandemic as consumers and corporate workers became more reliant on digital ways to sign documents. But the interest has died down. Notwithstanding the after-hours move, DocuSign shares have fallen 64% so far this year.related investing newsPayPal and more: CNBC’s ‘Halftime Report’ answers your stock questionsOn Oct. 10 Thygesen will replace DocuSign’s chair and interim CEO, Maggie Wilderotter, and join the company’s board. Thygesen has spent nearly 12 years at Alphabet subsidiary Google.Allan is joining DocuSign from Google where he served as President, Americas & Global Partners, leading the company’s more than $100 billion advertising business across North and South America. Prior to this role, he served as the President of Google Marketing Solutions, overseeing the global mid-market and small advertiser business, which serves millions of customers worldwide.Earlier this month DocuSign reported 22% revenue growth in the quarter that ended July 31, compared with 58% growth in 2021.This is breaking news. Please check back for updates.

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